- U.S Markets closed yet at another record high Yesterday.
- Dow futures are slightly positive currently.
- Asian Markets are higher.
- SGX Nifty is Trading near 15750.
- From Last 4 days , Markets have been going higher in the first half or opening with gap up.
- Yesterday too we had a small gap up but was heavily sold into through out the day.
- Yesterday was the 4th Consecutive day where markets closed lower
- FII's are on a selling spree and have sold more than 1000 crores on a daily basis since a week now.
- DII's keep supporting the market at lower levels.
- Our Market isn't bearish and is still Consolidating.
- Range now has been 15700 to 15900.
- This is the near term range and larger range is 15500 to 16000.
- Within this range Market is trading with some swings.
- Yesterday was one of the flat expirys ever.
- Bank Nifty traded in 200 point range whereas Nifty in 50 point range.
- Option sellers had a good day yesterday.
- As premiums are too low now this is reducing Volatility too.
- Option writers should also focus on Trading Intraday and not carry significant positions home.
- For this weekly expiry calls have been written aggressively.
- This week might also be a Consolidation.
- From the next week , Corporate results will start coming in and that can trigger some move.
- Nifty might Trade between 15680 to 15860 today.
- stockmarketadvisory.in
U.S Markets closed higher yesterday. Most importantly , S&P 500 VIX crashed 10%. There was huge Volatility in global markets due to Fed event. Markets remain volatile only when they have topped out or have bottomed out. Right now I feel we have bottomed out at 16850. Asian markets are slightly lower now. Dow futures are lower. SGX Nifty is at 17500. Finally , the most awaited day has come. Budget 2022 is going to be presented today. Expectations are of a good and stable budget. Reasons are the Elections coming up and LIC IPO in March. Govt very well knows if LIC IPO has to go through , Market sentiment has to be good. Without good market spending it would be very difficult for IPO to go through. Market had already fallen a lot before the budget. Although we have rallied in last 2 days but still we have some upside left. Though I feel it's not favourable to chase today's gap up. Today's gap up is a good opportunity to book profits those who carried longs. Bud
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